LFFP Ashford Portfolio LLC Acquires Three-Building Office Campus In Houston From Midland Loan Services
14701 Saint Mary's Lane, 1155 South Dairy Ashford Road & 900 Threadneedle Street
Building Size
570,045 SF
Asset Type
Office
Closing
Apr 8, 2025
About this deal
AI
A three-building office campus located at 14701 Saint Mary's Lane, 1155 South Dairy Ashford Road, and 900 Threadneedle Street was acquired by LFFP Ashford Portfolio LLC. The property spans 570,045 square feet and is situated in the Houston market, specifically in the Energy Corridor. At the time of the sale, the campus was 58% leased.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 14701 Saint Mary's Lane, 1155 South Dairy Ashford Road & 900 Threadneedle Street
- Market: Houston
- Asset Size: 570,045 SF
- Buyer: LFFP Ashford Portfolio LLC
- Seller: Midland Loan Services
- Brokers: Clay Anderson, John Ream, Kevin McConn, Martin Hogan & Rick Goings - JLL
JLL represented the court-appointed receiver during this transaction, playing a crucial role in facilitating the sale. The transaction involved multiple individuals from JLL, including Clay Anderson, John Ream, Kevin McConn, Martin Hogan, and Rick Goings.
On the Map
Office
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Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93